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of <h1>Foreign Trade Policy Update: Re-import Facility for Diamonds Now Includes Authorized Labs for Certification and Grading.</h1> The notification amends Paragraph 4.44 of Chapter 4 of the Foreign Trade Policy 2015-2020. Previously, only exporters with an annual turnover of Rs. 5 crores over the last three years could export cut and polished diamonds (0.25 carats or above) with a re-import facility at zero duty. The amendment extends this facility to authorized offices or agencies in India of laboratories mentioned in Paragraph 4.74 of the Handbook of Procedures. This allows for export and re-import at zero duty within three months for certification and grading purposes, subject to guidelines by the Central Board of Customs & Excise.
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